Friday, April 21, 2017

Peter Radford — Nailed to Its Perch

Economics, in its majority form, is simply dumb and wrongheaded. It is a dangerous technology based on a severely anti-social premiss. It seeks to contort the world to match itself rather than to describe the world as it is....
The project of the economic liberalism that dominates the economics profession is to model an idealized world based on highly restrictive assumptions based on ideology, chiefly methodological individualism that assumes ontological individualism, and then recommend policy that attempts to conform the real world to the model.

The Radford Free Press
Nailed to Its Perch
Peter Radford

3 comments:

Noah Way said...

If economics is a technology then religion is a science.

Neil Wilson said...

Mainstream economics is a political ideology based upon a top-down higher law philosophy.

Which leads to my new favourite word for the whole concept - Kakistocracy



Tom Hickey said...

Bad link, Neil.

Kakistocracy

Kali Yuga.

"There is an evil that I have seen under the sun, as great an error as if it proceeded from the ruler: folly is set in many high places, and the rich sit in a low place. I have seen slaves on horseback, and princes walking on foot like slaves."
— Ecclesiastes 10:5-7